Global #crypto exchanges

Russia is poised to begin trials for crypto exchanges starting September 1, as part of a strategic move to mitigate the impact of international sanctions. According to Bloomberg, citing knowledgeable sources, these trials will focus on enabling conversions between rubles and cryptocurrencies through the National Payment Card System, which is regulated by the Bank of Russia.

Hong Kong, long seen as a potential powerhouse in the global cryptocurrency industry, faces significant hurdles in its quest to become a leading crypto hub.

South Korean banks are steering clear of the escalating deposit rate competition among the nation's crypto exchanges. According to Daehan Keumyoong Shinmun, banks perceive no need to engage in the "deposit rate war" that exchanges have ignited in their quest for market dominance.

Leading digital currency trading platforms, including Coinbase Global Inc., KuCoin, and Gate IO, are pursuing licensing in Turkey as they face regulatory hurdles in the United States. This move reflects a broader trend of crypto exchanges seeking more favorable regulatory environments to support their operations and growth.

India may need to rethink its approach to taxing cryptocurrencies, according to a recent survey conducted by the Esya Centre, a New Delhi-based technology policy think tank.

In a surprising policy shift, the Russian government is reportedly set to reverse its stance on banning cryptocurrency exchanges. Lawmaker Anton Gorelkin, Deputy Chairman of the State Duma’s Committee on Information Policy, has revealed that Russia will no longer attempt to halt the “circulation” of cryptocurrencies within the country.